Castleark Management LLC Takes Position in Diamondback Energy, Inc. $FANG

Castleark Management LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 90,680 shares of the oil and natural gas company’s stock, valued at approximately $15,940,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cresset Asset Management LLC lifted its stake in Diamondback Energy by 37.5% in the 2nd quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock worth $649,000 after purchasing an additional 1,288 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Diamondback Energy during the 2nd quarter valued at $2,301,000. Cerity Partners LLC grew its position in shares of Diamondback Energy by 13.5% during the 2nd quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock valued at $7,022,000 after purchasing an additional 6,069 shares in the last quarter. AXA S.A. increased its holdings in shares of Diamondback Energy by 8.5% in the second quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock worth $7,194,000 after purchasing an additional 4,103 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Diamondback Energy by 37.1% in the second quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock worth $21,239,000 after purchasing an additional 41,866 shares during the period. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Citigroup decreased their target price on Diamondback Energy from $221.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Barclays lowered their price target on Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Susquehanna lifted their price target on Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group reissued a “hold” rating and set a $205.00 price objective on shares of Diamondback Energy in a report on Sunday, August 9th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $222.21.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the transaction, the director directly owned 13,437 shares in the company, valued at approximately $2,640,370.50. This represents a 3.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $200.54, for a total value of $1,002,700.00. Following the transaction, the executive vice president owned 46,392 shares in the company, valued at $9,303,451.68. This trade represents a 9.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 129,167 shares of company stock valued at $24,714,309 over the last quarter. 0.64% of the stock is owned by company insiders.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $199.89 on Wednesday. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $216.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The stock has a market cap of $55.97 billion, a P/E ratio of 38.96 and a beta of 0.43. The firm’s fifty day moving average price is $192.34 and its 200-day moving average price is $189.96.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.08 by $0.40. The company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.38 earnings per share. On average, equities research analysts expect that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.2%. Diamondback Energy’s payout ratio is 85.77%.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.